Spyre Therapeutics, Inc. $SYRE Position Increased by Intech Investment Management LLC

Intech Investment Management LLC lifted its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 22.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,945 shares of the company’s stock after buying an additional 4,517 shares during the period. Intech Investment Management LLC’s holdings in Spyre Therapeutics were worth $373,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SYRE. Paradigm Biocapital Advisors LP increased its holdings in shares of Spyre Therapeutics by 39.3% in the 1st quarter. Paradigm Biocapital Advisors LP now owns 2,127,205 shares of the company’s stock worth $34,322,000 after acquiring an additional 600,000 shares during the period. Geode Capital Management LLC raised its holdings in Spyre Therapeutics by 15.8% during the second quarter. Geode Capital Management LLC now owns 1,227,232 shares of the company’s stock worth $18,373,000 after purchasing an additional 167,669 shares in the last quarter. Nuveen LLC bought a new stake in shares of Spyre Therapeutics in the 1st quarter worth $2,261,000. Woodline Partners LP raised its position in Spyre Therapeutics by 31.8% in the first quarter. Woodline Partners LP now owns 464,808 shares of the company’s stock worth $7,500,000 after acquiring an additional 112,128 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Spyre Therapeutics by 409.5% in the 2nd quarter. TD Asset Management Inc now owns 113,968 shares of the company’s stock worth $1,706,000 after purchasing an additional 91,600 shares in the last quarter. 80.39% of the stock is owned by institutional investors and hedge funds.

Spyre Therapeutics Stock Up 1.0%

SYRE stock opened at $30.05 on Monday. The company has a market cap of $2.33 billion, a PE ratio of -8.84 and a beta of 2.99. Spyre Therapeutics, Inc. has a twelve month low of $10.91 and a twelve month high of $30.21. The business’s 50-day simple moving average is $21.83 and its 200 day simple moving average is $18.14.

Spyre Therapeutics (NASDAQ:SYRE) last issued its earnings results on Tuesday, November 4th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.53. On average, equities research analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.

Insider Buying and Selling

In related news, CFO Scott L. Burrows sold 18,428 shares of Spyre Therapeutics stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $16.26, for a total transaction of $299,639.28. Following the completion of the transaction, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at $1,593,382.44. This trade represents a 15.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Cameron Turtle sold 45,000 shares of Spyre Therapeutics stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $23.33, for a total transaction of $1,049,850.00. Following the completion of the transaction, the chief executive officer owned 701,907 shares of the company’s stock, valued at $16,375,490.31. This trade represents a 6.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 15.43% of the company’s stock.

Wall Street Analyst Weigh In

SYRE has been the subject of several analyst reports. Wall Street Zen raised Spyre Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Tuesday, November 25th. BTIG Research reiterated a “buy” rating and set a $70.00 price target on shares of Spyre Therapeutics in a report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Spyre Therapeutics in a report on Friday, September 26th. They issued a “buy” rating and a $43.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $50.00.

Spyre Therapeutics Profile

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).